3. Are there grounds to negotiate with the Tax Office to reduce the liability?

This might be the case for remission of penalties and less so, for remission of interest.

4. Can PAYG tax be reduced?

If the Tax Office has raised a debt for an estimated instalment of tax (PAYG), can that instalment be varied downward for any reason?

If none of the above applies, then we would firstly congratulate you on your business results (remember, there is only tax liable if you’ve made money) and then work out your options for the repayment of the monies.

There’s always help from an experienced and trusted accountant available to guide you.